This is all unnecessarily complicated. It's a subjective decision. There's only one reason to flag a comment: "It makes me feel bad" (or "I don't like it"). A mod can then read the comment and decide if she feels like the user should be punished. Done. Sure, link the code of conduct, but that's unnecessarily complicated as well. You don't need a formally expressed policy to justify mod decisions. Mods are by definition kind people, because unkind people aren't interested in policing other people's behavior all day. They'll do the right thing. If somebody doesn't like having a comment deleted, the answer is: "It's our site. Go away." Users who don't like mod decisions don't belong on the Stack Exchange network. The users who belong here are the ones who, when corrected, say "Yes, I was wrong. If I don't know what I did wrong, it's my job to figure it out." We're not here to educate them.
When you explicitly state what's forbidden, however broadly you state it, you are implying that there may be some behavior that bothers somebody which is permitted. And that person may feel disempowered and hesitate to flag. You don't want that happening. A site where somebody hesitates to flag a comment is not a kind, welcoming site. The only guideline for flagging should be "When in doubt, flag", and the only guideline for mods should be "when in doubt, delete".